PSG - Pharmaceutical Strategies Group

Solutions

PSG’s mission is to design and implement highly customized strategic pharmacy benefit management solutions that allow our clients to maximize the value of pharmaceuticals in their population.

We have completed over 500 competitive procurement engagements during the 15 year history of our firm, giving us unparalleled insight and leverage in the marketplace. Our methodology and recent market knowledge ensures that our clients are able to obtain best-in-class program pricing, performance guarantees, and contract terms for the proposed basket of services offered by PBMs and/or related entities.

PSG’s approach is founded on the principle that to achieve maximum value in pharmacy benefit programs, there must be balanced strategies that address clinical, operational, and financial aspects of pharmacy plans.  These strategies must be based on transparency, best practices, and proven methodologies in order to achieve the optimal performance levels that our clients expect.  The result is lower costs, better vendor and plan performance, and higher member satisfaction.  Our clients also enjoy lower drug trend rates (i.e., the annual percentage by which drug expenditures increase), better integration with their medical and disease management (DM) programs, and higher satisfaction levels with their PBM relationships.

To learn more about each of the tools and services PSG deploys on our clients’ behalf, please select from the menu in the left-hand pane. 

Strategy Development

PSG works with each client to develop a strategic action plan for their pharmacy benefit program that puts them in control of pharmacy spend and maximizes their pharmacy investment to improve overall health and productivity outcomes.  Though our services are customized for each client depending on their needs, we generally follow these steps in the strategic development process:

• Conduct current program assessment.
  • Current-state pharmacy program diagnostic (RxDiagnosticSM).
  • PBM contract compliance review (audit).
  • Health initiatives review.
• Conduct gap analysis.
• Construct pharmacy strategy.
  • Vendor decision (renewal vs. RFP).
    • Financial, operational and contract goals.
  • Program management and gap-closure opportunities
    • Programs (cost and outcome focused).
    • Benefit design.
    • Retiree solution.
• Measurement and oversight.
  • Custom analytics and benchmarks.

The following graph illustrates this process.